What is taxable value?
Taxable value is the amount on which a property owner pays property taxes. Taxable value is the lesser of the assessed value or the prior year’s taxable value minus losses, increased by the lesser of 5% or the Consumer Price Index (CPI), plus additions. The Consumer Price Index for 2011 taxable value is 1.7%. A transfer of ownership will change the taxable value to the assessed value in the year following the transfer of ownership. Information about the calculation of the CPI can be found at the Michigan Department of Treasury website.

Losses are the removal of property, such as removal of a garage. An addition includes finishing a basement, building a deck, and other improvements.

Show All Answers

1. Why does my assessment change every year?
2. What is taxable value?
3. How can my taxable value go up when my assessed value goes down?
4. How do I find out about delinquent taxes?
5. How do I learn more about the Tax Foreclosure Auction?
6. Understanding Your Assessment Notice